Quarterly report pursuant to Section 13 or 15(d)

ACQUISITION (Tables)

v3.20.2
ACQUISITION (Tables)
6 Months Ended
Jun. 30, 2020
Business Combinations [Abstract]  
Business Combinations
The purchase price calculation is a follows:
Cash $ 2,079,525   
Liabilities 140,257   
$ 2,219,782   
The following table summarizes the estimated fair value of the assets acquired and liabilities assumed at the date of purchase:
Accounts receivable $ 207,145   
Inventory 1,119,143   
Intangible assets 990,000
Goodwill 17,681   
Accounts payable (114,187)  
$ 2,219,782   
The purchase price calculation is as follows:
Cash $ 2,419,371   
Stock 1,020,000   
$ 3,439,371   
The following table summarizes the estimated fair value of the assets acquired and liabilities assumed at the date of purchase:
Cash $ 172,850   
Accounts receivable 324,989   
Inventory 269,746   
Prepaid expenses 13,180   
Property and equipment 126,000   
Intangible assets 1,110,000   
Goodwill 1,564,000   
Accounts payable (134,956)  
Accrual liabilities (6,438)  
$ 3,439,371